Highlights
- Qtum implements halvening, adds about 1 million coins into its circulating supply yearly
- Qtum uses an inflationary model
- Qtum adds about a million coins yearly
- The current yield to decrease by half in December 2021
What Makes Qtum Dynamic?
Qtum is a cryptocurrency that combines Bitcoin’s blockchain security with Ethereum’s smart contract flexibility. It employs a proof-of-stake consensus process for generating new blocks, which is significantly more straightforward and less energy-intensive than Bitcoin’s proof-of-work methodology. Qtum aims at major corporations to become a vital component of various industries, including finance and social media.
While Qtum draws inspiration from both Bitcoin and Ethereum, it varies in crucial respects from both of its much-larger counterparts. First, Qtum implemented the Account Abstraction Layer (AAL), a technology that allows smart contracts to be used in conjunction with the UTXO architecture. Second, the interaction of the UTXO and smart contract models is enabled via AAL.
Qtum Adds About 1 Million Coins
In a recent tweet by Qtum, it shows that Qtum leverages an inflationary model which means that about 1 million coins are added to the circulating supply yearly. The Qtum project would also feature a halving, with the current yield set to reduce by half around December 2021.
Inflationary and deflationary currencies are the two types of currencies available. Inflationary currencies have no restriction on the number of units in circulation, but deflationary currencies do. With all other conditions constant, the purchasing power of inflationary currencies decreases as more units are printed. Deflationary currencies, on the other hand, appreciate in value over time as the money becomes scarcer. Inflationary currencies are fiat currencies, whereas most cryptocurrencies are deflationary in one way or another.
"#Qtum leverages an inflationary model, adding about 1 million coins into the circulating supply yearly. The project also features a halvening, with the current yield set to reduce by half around December 2021"https://t.co/nHz1ZVQLAl#DeFi
— Qtum (@qtum) October 15, 2021
Advancing Into The Future With Qtum
On August 28, 2020, a hard fork added offline staking, which has grown to account for more than half of the staking activity on the Qtum blockchain. Users were able to delegate their coins to an online Super Staker on a non-custodial basis.
Last year, the Qtum Phantom privacy technology was hit hard by worldwide regulatory uncertainty and exchanges delisting privacy tokens. Phantom has been deployed and has undergone a thorough third-party security audit, but it still has not been used.
Qtum’s virtual machine architecture, Qtum Neutron, has been redesigned for 2021 with a new ARM-based virtual machine and a cross-chain perspective. Neutron’s development is a big part of the 2021 roadmap of Qtum.
In late 2020, Qtum made the decision to focus on DeFi tools and capabilities. After some initial frothiness, Qtum management believes DeFi will be a critical success factor for blockchain, and they have been working hard to develop the technology and relationships needed to fulfil this promise.
As of the time of reporting this news, Qtum’s current market price is at $12.73 with a market capitalization of $2,460,708,906,393, according to Coin Market Cap. Do follow us for news updates here
